TUSTIN, CITY OF (CFD - TUSTIN LEGACY-2006

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JOINT COMMUNITY FACILITIES AGREEMENT THIS JOINT COMMUNITY FACILITIES AGREEMENT . (this "Facilities Agreement"), dated as of May 1,2006, is by and between the CITY OF TUSTIN, a general law city organized and existing under the laws of the State of California ("Tustin"), and the CITY OF SANTA ANA, a charter city organized and existing under the laws of the State of California and its charter ("Santa Ana"). WITNE S SETH: WHEREAS, the owner of certain property within Tustin has submitted to the City Council of Tustin (the "Tustin City Council") a petition to institute proceedings under the Mello- Roos Community Facilities Act of 1982 (the "Act") to establish a community facilities district; WHEREAS, pursuant to the Act and said petition, the Tustin City Council has instituted proceedings to establish City of Tustin Community Facilities District No. 06-1 (Tustin Legacy/Lennar Homes) (the "Community Facilities District"), to authorize the levy of special taxes (the "Special Taxes") upon the land within the Community Facilities District and to issue bonds (the "Bonds") secured by the Special Taxes, the proceeds of which are to be used to finance certain public facilities; WHEREAS, the facilities proposed to be financed by the Community Facilities District include certain facilities to be owned and operated by Tustin (the "Tustin Facilities") and certain facilities to be owned and operated by Santa Ana (the "Santa Ana Facilities"); WHEREAS, Section 53316.2 of the Act provides that a community facilities district may finance facilities to be owned or operated by an entity other than the agency that created the community facilities district only pursuant to a joint community facilities agreement or a joint exercise of powers agreement adopted pursuant to said Section; WHEREAS, Section 53316.2 of the Act further provides that at any time prior to the adoption of the resolution of formation creating a community facilities district, the legislative bodies of two or more local agencies may enter into a joint community facilities agreement pursuant to said Section and Sections 53316.4 and 53316.6 of the Act to exercise any power authorized by the Act with respect to the community facilities district being created if the legislative body of each entity adopts a resolution declaring that such a joint agreement would be beneficial to the residents of that entity, and by its authorization hereof, the legislative body of each of Tustin and Santa Ana has so declared; WHEREAS, Tustin and Santa Ana desire to enter into this Facilities Agreement in accordance with Sections 53316.2, 53316.4 and 53316.6 of the Act in order to provide for the financing of the Santa Ana Facilities through the issuance of Bonds by the Community Facilities District; WHEREAS, Santa Ana and Tustin have entered into an Amendment to Joint Exercise of Powers Agreement between the City of Santa Ana and the City of Tustin Regarding the Tustin- Santa Ana Transportation System Improvement Authority, dated as of February 22, 2001 (said DOCSLA1,517226.3 I